Social Commerce Startup CityMall Fires Over 15% Of Its Workforce
According to sources, CityMall has 1,100-1,200 employees including off-role staff whereas its LinkedIn page shows that it has a total headcount of over 800
Social Commerce Startup CityMall has joined the league of over a dozen startups shedding employees in a bid to cut costs and extend the runway. The Gurugram-based firm has laid-off over 190 employees, according to the company’s LinkedIn post.
“The layoffs have been on for the past several weeks,” said one of the sources requesting anonymity. “The impacted employees constitute over 15% of total strength and are from marketing, sales, human resource and engineering functions.”
According to sources, CityMall has 1,100-1,200 employees including off-role staff whereas its LinkedIn page shows that it has a total headcount of over 800.
Layoffs have become the new normal across venture-funded startups in India after two years of the talent war. CityMall’s cuts come within four months of its $75 million Series C round. A clutch of well-funded startups including Cars24, Rupeek, mFine, Meesho, Unacademy and Vedantu have collectively laid-off several thousand employees over the past few months.
